Video archive of the US Congress

House Proceeding 03-05-09 on Mar 5th, 2009 :: 0:59:55 to 1:01:10
Total video length: 1 hours 29 minutes Stream Tools: Stream Overview | Edit Time

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Tom Price

0:59:52 to 1:00:12( Edit History Discussion )

Tom Price: got not so far as the gentleman's suggestion goes because the gentleman's suggestion would essentially kill the bill and continue these vacancies. they're hurting all of us. thank you, mr. speaker. the chair: the gentleman from georgia. mr. price: i continue to reserve. the chair: the gentlelady from california. ms. lofgren: i believe i have the right to close, do i not?

Tom Price

0:59:55 to 1:01:10( Edit History Discussion )
Speech By: Tom Price

Tom Price

1:00:13 to 1:00:33( Edit History Discussion )

Tom Price: does the gentleman have additional speakers? mr. price: i don't. do you? ms. lofgren: no, we don't. mr. price: mr. speaker, this is a very simple amendment. what it says is if a bank loans an individual $150,000 to purchase a home and that is subject to a bankruptcy provision and a cramdown and a judge says that principal will only be $100,000 and that

Tom Price

1:00:34 to 1:00:55( Edit History Discussion )

Tom Price: individual owns the home and then sells it at a future date, more than five years, for somewhere between $100,000 and $150,000, then that amount of money goes to the lender. the individuals that originally were at risk for the money. loan the money. if it was over $150,000, then the old homeowner is able to

Tom Price

1:00:56 to 1:01:10( Edit History Discussion )

Tom Price: pocket that profit appropriately. it's a very simple provision. it's a provision, an amendment of fairness, of simplicity. it doesn't gut the bill. in fact, what it does is makes the system actually fair and responsible and rewards

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